Never mind the 1 percent Let’s talk about the 0.01 percent
By Howard R. Gold – Since the Great Recession, America’s wealthiest 1 percent have been demonized as fat cats who have grown ever richer while the middle class has stagnated. While protesters have called for the 1 percent to be taxed more heavily, economists have been digging into data to develop a better understanding of who the top earners are.
These economists have been seeking to measure income inequality and wealth inequality, and to understand the nature of the 1 percent’s income and assets.
But the data also reveal disparities within the 1 percent. The 1 percent, it turns out, have their own 1 percent. more>